Dubai’s Real Estate Regulatory Authority, or RERA, is in the process of creating a property court that will speed up resolution of property and construction disputes in the Emirate. The new real estate court is scheduled to open in September of 2008.
Investors, tenants, contractors and developers will be able to have their disputes heard in a timely manner with the new court, an important development in this fast growing region of the Middle East. Currently, most disputes don’t make it to civil court as the time process before a hearing can be anywhere from 18 months to 3 years.
With real estate spurring growth and investment in Dubai and the rest of the UAE, it is hoped that this new court will help to keep the market running smoothly. Although Dubai has not been known to have major problems in its real estate market, unlike many other fast growing property markets, the government wants to make sure that things continue to run smoothly. The new court will ensure that.
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